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Cofinimmo — Regulatory Filings 2015
Jun 5, 2015
3933_iss_2015-06-05_352f5d01-2285-48e6-ae8d-a94041232769.pdf
Regulatory Filings
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REGULATED INFORMATION Brussels, embargo until 05.06.2015, 05:40 PM CET
Acquisition of two high-end sport and wellness centres in Germany
On 05.06.2015, the Cofinimmo Group acquired two sport and wellness centres located in Germany, in Hamburg and in Hanover respectively:
| Hamburg | Hanover | |
|---|---|---|
| Location | Ulhenhorst | Maschsee |
| Year of construction | 2012 | 2009 |
| Surface area | 7,800m² | 10,000m² |
| Equipment | Gym, swimming pools, sauna, spas, | Gym, swimming pools, sauna, spas, |
| tennis courts and hockey pitches | beach volleyball court |
The two facilities, which enjoy excellent locations within a luxury residential area or on the edge of a lake, are leased for 30 years to the Aspria Group, which has concluded "double net" lease contracts with the Cofinimmo Group, featuring limited maintenance obligations for Cofinimmo (maintenance of the buildings' structure, façades and roofs). The rents will be indexed annually.
The initial investment amounts to €53.6 million. The initial gross rental yield from this transaction stands at 7.60%. Moreover, price supplements will be payable in the future, under certain conditions, combined with a rent increase if applicable. The gross rental yield could then reach 8%.
This transaction represents an extension to the partnership between Cofinimmo and Aspria. As a reminder, in 2007, Cofinimmo acquired the "Royal La Rasante" centre located Rue Sombre/Donkerstraat in Brussels, leased to Aspria for 20 years. The lease contract for this centre was renewed on 03.06.2015 for a 30-year term. In 2014, the two companies concluded an agreement relating to the development of a new centre on the Solvay Sport site in Brussels, subject to obtaining the required permits.
The Aspria Group, founded in 2000, manages eight high-end sport and wellness centres in prestigious locations in Germany, Belgium and Italy. In Belgium, the company operates three centres, located in Brussels, on Rue de l'Industrie/Nijverheidsstraat, Avenue Louise/Louizalaan and Rue Sombre/Donkerstraat respectively.
Jean-Edouard Carbonnelle, CEO of Cofinimmo: "This transaction allows us to extend our operations in Germany with the acquisition of assets leased for a very long term to a high-quality partner. Their remarkable locations and amenities ensure their long-term ability to attract local residents, and their focus on sport and wellness respond to a clear contemporary lifestyle trend."
Brian Morris, CEO and co-founder of Aspria: "This new transaction further strengthens our partnership with one of the foremost real estate investors in Europe and assists Aspria in its continued development as one of the leaders in healthy hospitality in Europe."
REGULATED INFORMATION
Brussels, embargo until 05.06.2015, 05:40 PM CET
PRESS RELEASE
For more information:
Valerie Kibieta Ellen Grauls
Head of External Communication and Investor Relations Manager Investor Relations Tel.: +32 2 373 94 21 Tel.: +32 2 373 60 36 [email protected] [email protected]
REGULATED INFORMATION Brussels, embargo until 05.06.2015, 05:40 PM CET
PRESS RELEASE
About Cofinimmo:
Founded in 1983, Cofinimmo is today the foremost listed Belgian real estate company specialising in rental property and an important player in the European market.
The company owns a diversified property portfolio spread over Belgium, France, the Netherlands and Germany, worth over €3.2 billion, representing a total area of 1,780,000m². Riding on demographic trends, its main investment segments are offices (41%), healthcare properties (41%), and distribution networks (17%). As an independent company that consistently applies the highest corporate governance and sustainability standards, Cofinimmo services its tenants and manages its properties through its 110-strong team operating from Brussels.
Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the fiscal REIT regime in Belgium (RREC), in France (SIIC) and in the Netherlands (FBI). Its activities are controlled by the Financial Services and Markets Authority, the Belgian regulator.
At 31.03.2015, its total market capitalisation stands at €1.95 billion. The company applies investment policies which seek to offer a high dividend yield and capital protection over the long term, and aim both institutional and private investors.
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